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BUSINESS
Bridge Investment Group buys Glen91 in Glendale
(Marcus & Millichap)
Bridge Investment Group recently purchased Glen91 for $76.5 million. It is at 8991 W. Glendale Ave., in Glendale.
Posted
Bridge Investment Group recently bought Glen 91, a 296-unit multifamily asset in Glendale for $76.5 million. The sale was announced on July 19.
“The West Valley’s municipalities, which include Glendale, have experienced outsized growth in the post-pandemic boom and are among the Valley’s most in-demand suburban locations,” stated Steve Gebing, IPA executive managing director, in a press release. “Glendale has the second-highest concentration of renter households in the West Valley and is projected to maintain steady growth well into the future.”
Institutional Property Advisors, a division of Marcus & Millichap, employees Gebing and IPA executive managing director Cliff David represented the seller, HCW, and procured the buyer. The sale price works out to $258,446 per unit.
Completed in 2023, Glen 91 has climate-controlled interior corridors, a resort-style swimming pool, hammock garden, covered parking, and attached garages. It is at 8991 W. Glendale Ave.
Apartments have nine-foot ceilings, laundry rooms with full-size washers and dryers, and walk-in closets with built-in shelving. The average unit size is 871 square feet.
